Getting middle-age clients to slow their spending

About the time clients hit 50, when their earnings are at a peak and their children are less likely to be at home, many tend to stray from their budgets, says Alice Munnell, director of the Center for Retirement Research at Boston College. But this is a crucial point when clients need to save more, not spend more, she said. Financial planners should raise the issue with clients and help them avoid risking their retirement security.